Current Prices: Gold USD 2381/oz (AUD 3697.19) And Silver USD 28.88/oz (AUD 44.84)
Gold prices climbed on Monday due to safe-haven demand spurred by Middle East tensions. Spot gold rose by 1.67% trading near $US 2383.15 an ounce at the US close and silver jumped by 3.46% trading near $US 28.84 an ounce.
US share markets fell on Monday. The Dow Jones index fell by 248 points or 0.7%, relinquishing an earlier advance of more than 1%. The S&P 500 index slid 1.2%, despite being up 0.9% earlier in the session. The Nasdaq index tumbled 290 points or 1.8%.
US government bond yields rose on Monday after stronger-than-expected US retail sales data from March suggested the US Federal Reserve could delay cutting interest rates this year. New York Fed President John Williams said that inflation is not at a turning point and that he still sees rate cuts this year. The US 10-year Treasury yield rose by 11 points to 4.61%, after touching its highest level since mid-November. The US 2-year Treasury yield lifted 4 points to 4.92%.
Currencies were weaker against the US dollar in European and US trade. The Aussie dollar slid from US64.92 cents to US64.37 cents and was near US64.40 cents at the US close.
In US economic data, Retail sales rose by 0.7%in March, while the control group lifted by 1.1%, both well above expectations. February data was also revised higher.
Australian gold prices were up by 1.98% ($72 per oz) to AUD 3699.64 at the US close.
Australian silver prices rose by 3.86% ($1.67 per oz) to AUD 44.82 at the US close.
The current Gold and Silver Ratio is 82.48
Current AUD/USD is 0.64417
Gold (Yellow) vs Silver (White) vs ASX200 (Green) YTD Returns
Gold (Yellow) vs Silver (White) vs ASX200 (Green) Rolling 12 Month Returns
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